Putin recommended the Central Bank to lower interest rates on loans

Putin recommended the Central Bank to lower interest rates on loans


These measures are aimed at reducing the deficits of regional budgets

Photo: press service of the President of Russia/kremlin.EN

Russian President Vladimir Putin recommended the Central Bank of Russia to lower interest rates on loans to reduce the deficits of regional budgets, the press service of the Kremlin.

“To recommend to the Central Bank of the Russian Federation to analyze the formation of interest rates on loans provided to subjects of the Russian Federation credit institutions, and take measures to reduce them”, — stated in the message on the website of the presidential administration.

It is noted that the analysis should be prepared prior to November 1, 2017.

By that time, the President also instructed the heads of higher Executive bodies in the regions to make an inventory of property owned by entities that identify unused and involved in the economic turnover. The property is owned by entities and non-income, or being used to solve social problems, it is necessary to privatize.

In addition, the head of state noted that the debt policy actors must be formed before the approval of budgets for the next financial year. It should be realized the active use of government securities of the subject as a source of long term financing of budget deficit.

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